Technological developments in recent years have changed nearly every industry, and real estate is no exception. The process of listing, viewing, buying and selling properties has become much more streamlined with listing websites, e-signed documents and mobile apps.
Here are the most influential real estate tech developments, according to Forbes Real Estate Council:
- Artificial intelligence will transform prospecting, lead generation and customer service
- Virtual reality will become more common as a way to tour homes from afar
- Geographic and social advertising opportunities are evolving month-to-month
Tokeet – Tokeet is a great application that can help you manage multiple vacation rental properties on various sites from one platform. It takes away the hassle of having to update multiple calendars with booking confirmations. – Ali Jamal, Stablegold Hospitality
Artificial Intelligence – AI is so sophisticated that clients can get information instantly and agents can have a personal assistant working 24/7 at the weekly price of daily Starbucks latte. – Rita Santamaria, Champions School of Real Estate
Data-Driven Insights – I’m excited to see more and more tools that yield insights on which spaces truly bring value to tenants. Whether it be commercial, residential or retail space, understanding — and measuring — how space gets used is critical for optimizing the tenant experience. – Benjamin Pleat, Doorbell Inc.
Virtual Reality – Despite making major strides, virtual reality has still barely touched real estate. I’m excited to see simpler, more robust solutions come to market that allow clients to truly experience a property without setting foot into a physical space. – Anthemos Georgiades, Zumper
Automated Valuation Models – Automated valuation models (AVM), like what Enodo provides for multifamily, allow users to quickly produce revenue and expense information needed to analyze a deal. I think AVM will forever change the analyst role by increasing both efficiency and objectivity. – Susan Tjarksen, KIG CRE LLC
Geo And Social Media Advertising – Snapchat, Instagram, Google and Facebook are offering much more targeted geofencing ad opportunities so I can target the offices of my competition or properties being shown with my ads to hit buyers or investors on their mobile devices with my messaging as they are touring another property. – Kent Clothier, Real Estate Worldwide
Electronic Notary Functionality – We do virtually everything by electronic signature, however certain financing documents require the presence of a notary. With Notarize, this can all be done virtually and securely through your laptop. – Gary Beasley, Roofstock
View the original article at Forbes